Dogecoin is trending again, and the crypto market's popularity is rising. Recent analyses indicate that this popular meme coin may be on the verge of a significant breakthrough—if the momentum holds, the price could increase by 10 to 33 times. The popularity of Dogecoin highlights the appeal of speculative assets driven by community and communication power.
Consolidation and accumulation, the trend shows signs
In recent months, Dogecoin's price has been fluctuating within a narrowing range, which signals that it is about to gain momentum in the crypto space. Historically, Dogecoin typically accumulates chips when the market starts to warm up, and then it surges dramatically.
Currently, multiple indicators are bullish: large funds or 'whales' are accumulating, support funds are increasing, and the lows are rising. Analysts say this trend is similar to what was observed before previous surges, which is why discussions about a '10-fold increase' are trending, and many are keeping an eye on it.
Whales + ETF, dual support for the market.
Dogecoin can stabilize largely due to the efforts of 'whales'. Alitu charts show that large holders bought 4.72 billion Dogecoins in the past two weeks. This not only stabilized the price but also indicates that large funds have confidence in it.
What excites the market even more is that Grayscale Investments has registered a Dogecoin ETF with the DTCC. This raises expectations for the ETF launch—making it easier for institutions to enter, which will lead to more capital flowing into Dogecoin.
Technically, Dogecoin is in a 'symmetric consolidation', with the lows still rising and strong upward momentum. Analysts predict that it may next hit the historical high of $0.73905, or even break through it.
311% increase? Based on these three points.
The core of Dogecoin's potential 311% increase consists of three factors: first, the consolidation pattern is good, with continually rising lows; second, 'whales' bought 4.72 billion coins, voting with real money; third, the Grayscale ETF registration brings positive news.
These factors combined, along with historical market references, lead industry experts like Javon Marks to believe that Dogecoin is likely to rise above $0.73905.
Can I get in? First, assess the risks.
Currently, Dogecoin is performing well: the upward trend is clear, 'whales' are active, the current price is about $0.176, and the market cap is stable, indicating potential for investment.
But it must be reminded: cryptocurrencies are highly volatile, and Dogecoin is more strongly influenced by sentiment, with risks higher than traditional assets. Even if the market is good, one should first assess their own risk tolerance, conduct proper research, and avoid blindly following trends.
Key points summary.
1. Good formation: symmetric consolidation + rising lows, bull market continuation; it once rose to $0.73905 in 2021 for this reason.
2. Stable funds: 'Whales' bought 4.72 billion coins, stabilizing the price and boosting confidence.
3. Positive news: Grayscale ETF registration makes it easier for institutions to enter, aiding in breaking through the high point.
Dogecoin is currently in a key consolidation period; investors should not guess randomly, just focus on technical indicators and fund movements. Rational operations based on personal circumstances can seize opportunities while protecting principal.
